WLD Dark Side: What If People Start Forcing Others to Scan Eyeballs?

  • Worldcoin (WLD) launch creates a whirlwind of frenzy in the crypto community.
  • Concerns emerge over potential coercion and security risks associated with the iris scanning process.
  • OpenAI CEO said one person gets verified every eight seconds.

A whirlwind of frenzy swept the crypto community as Sam Altman, the CEO of OpenAI, took to Twitter to share the progress of Worldcoin (WLD) on its third day of launch, where users are seen standing in a long queue to get verified.

“Crazy lines around the world,” he exclaimed, detailing the pace at which verifications occurred: one person every eight seconds. The accompanying video showcased a scene with crowds of young enthusiasts forming long queues, eagerly awaiting their turn to undergo iris scans for the promise of receiving free WLD tokens.

However, amid the excitement, a dark cloud of concern loomed. Gabor Gurbacs, Strategy/Advisor associated with Tether, sounded a cautionary note. He raised a troubling question about potential coercion, envisioning a scenario where people might be forced into submitting to iris scans against their will.

According to him, such an action could give rise to the infamous “$5 wrench attack,” highlighting a substantial security risk that warrants careful consideration. Similarly, former Twitter CEO, Jack Dorsey, expressed a feeling of unease about the unfolding events with a single sad emoji.

Lefteris Karapetsas, Founder of Rotkiapp, probed the underlying motives driving such massive queues and fervent anticipation. He questioned the elusive use case of the World ID, pondering what could impel the young generation to endure lengthy waits and form serpentine lines in pursuit of this digital offering.  “Or is it, after all, just airdrop farming so they can acquire and immediately liquidate WLD for “free” money?” Karapetsas enquired.

Ki Young Ju, the CEO of CryptoQuant, asked what comes after scanning the iris and receiving WorldCoin. A Twitter user added a chilling twist: “3. Get rug pulled.” Notably, some experts expressed concern about Worldcoin iris scanning before the launch of the WLD token, as Coin Edition captured in a report.

Comments

Post a Comment

Popular posts from this blog

Bitcoin Mining Pool Btc.com Suffers $3 Million Cyberattack

A major cryptocurrency mining pool has been hit by hackers earlier this month, the company who owns the pool revealed in an announcement. The incident resulted in the theft of digital assets belonging to the pool and its clients worth a combined total of $3 million. Chinese Authorities Launch Investigation Into Crypto Mining Pool Hack A subsidiary of the coin minting company Bit Mining has been targeted in a hacking attack , the company said in a press release. The affected entity is a leading bitcoin mining pool, Btc.com, which in the past week accounted for over 2.5% of the pool distribution and has a share exceeding 4% on annual basis. According to the announcement published Monday, Dec. 26, the platform was hit on Dec. 3, 2022. As a result, $2.3 million worth of digital assets owned by the company and another $700,000 in asset value belonging to its clients were stolen. The cyber attack has been reported to law enforcement in Shenzhen, China on Dec. 23. The Chinese aut...
Read more

Blockchain.com and TON Foundation introduce Toncoin incentive program

Image
Zug, Switzerland, October 18th, 2023, Chainwire Today, The Open Network Foundation ( TON Foundation ), the non-profit Swiss organization working towards growing a Web3 ecosystem within Telegram, has announced a collaborative endeavor with Blockchain.com, one of the world's most trusted and popular platforms for retail customers and institutions to buy, sell, and trade cryptocurrency.  Through this collaboration, Blockchain.com and TON Foundation will make crypto more accessible for the over 800 million monthly active users on Telegram. In September 2023, TON Space, the TON-based self-custody cryptocurrency wallet developed by the team behind Wallet, was made available in the Telegram settings menu for existing users of Wallet outside of the United States. Starting in November 2023, TON Space will be available by default in the Telegram menu for all Telegram users outside the United States. All existing and new Telegram users, excluding those in the United States, will be able to ac...
Read more

Flare (FLR) airdrops 15% of total supply to XRP holders before correcting by 76%

Image
After a 2-year wait, the layer-1 Flare blockchain has finally followed through and sent its tokens to those who held XRP at the time of the snapshot. The Flare (FLR) token Airdrop started on Mon., Jan. 9, nearly two years after a snapshot of Ripple (XRP) holders took place on Dec. 12, 2020. The FLR Airdrop was distributed at a ratio of 1.0073 FLR per 1 XRP and the initial distribution saw 15% of the total supply released to the community. A total of 28.5 billion FLR were distributed based on this methodology and according to Flare’s tokenomics, 58.3% of the total genesis FLR supply will be distributed over 36 months. Flare initial token distribution allocation. Source: Flare What is Flare? Flare is a Layer-1 Blockchain with an oracle system aiming to boost interoperability amongst decentralized applications (DApps) and blockchains. While the token only recently launched, the protocol launched its mainnet on July 11, 2022. To date, the Flare mainnet has already processed over 70 mi...
Read more